Many sellers and agents appear to be removed from reality of the current real estate situation based on their asking prices...make no mistake, we are in a buyers market and you are in the drivers seat.
Check out Zillow.com and see if it lists what it sold for previously...there is no way I am paying the same or more than what someone purchased the house for in 2003. No wonder these houses sit on the market forever.
1. I would evaluate the property has if I were going to list it (to come up with a price I think it is worth)
2. I would look at the comps or recent sales and look at what they were listed at compared to what they sold at
3. I would look at the agent and determine how strong an agent they our remember I will work for you and if they have a weakness i will exploit it (some agents either tell to much or sometimes what they don't say hurts them again I work for my buyer so if I can get information from a Realtor that they are really not suppose to give well that our gain I have no relationship with the buyer.
4. Some times the seller will sale for a lot less just can't because of pay off of their mortgage thatâ€™s why I will take a trip to court house and see what they owe and if they are really in a position to neg. (mortgage information is public knowledge)
5. And the last way is if someone is in a real crunch and need to move on I will propose a short sale to the seller there by in which their lender accepts less money for the payoff
All in all I have save clients a lot of money over the last few months and if you would like some references please send me an e-mail. 1. example is home listed for 139,900 payoff was around 120s and I negotiated the short sale of 105k that loan will close at the end of the month 2. If you have cash when dealing with a foreclosure the banks will take a lower cash offer because of the financing woeâ€™s of late Property listed for 134,900 waited until it went to 115,900 made cash offer of 85,505 and closed in August and I was told there was another offer of 104k that was rejected because of type of financing.
Give me a call if you would like more Ideas